Dividends

The Company currently intends to pay dividends semi-annually with a target pay-out ratio of at least 50% of profit for the period calculated under IFRS.

The Board intends to regularly consider, and is entitled to increase, annual dividend payout should the Company accumulate excess cash balance while prioritising the investment requirements for the Group’s growth and net leverage targets.

The Group currently plans to maintain a conservative financial policy with the targeted IAS 17-Based Net Debt/(Cash) to IAS 17-Based EBITDA ratio below 1x in the mid-term, with no intention to accumulate significant excess cash balance.